Latrobe, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Latrobe, PA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Latrobe Housing Market Information

With 8,081 people, 3,701 houses or apartments, and a median cost of homes of $124,266, house prices in Latrobe are solidly below the national average.

Single-family detached homes are the single most common housing type in Latrobe, accounting for 68.15% of the city's housing units. Other types of housing that are prevalent in Latrobe include large apartment complexes or high rise apartments ( 15.45%), duplexes, homes converted to apartments or other small apartment buildings ( 12.50%), and a few row houses and other attached homes ( 3.41%).

The most prevalent building size and type in Latrobe are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.15% owning and 36.85% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Latrobe's housing was primarily built during this period, from the '40s through the '60s. A full 46.21% of the city's housing hails from this era. Other housing ages represented in Latrobe include homes built before 1939 ( 36.77%) and housing constructed between 1970-1999 ( 14.27%). There's also some housing in Latrobe built between 2000 and later ( 2.76%).

Vacant housing appears to be an issue in Latrobe. Fully 14.15% of the housing stock is classified as vacant. Left unchecked, vacant Latrobe homes and apartments can be a drag on the real estate market, holding Latrobe real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Latrobe Home Appreciation Rates

Appreciation rates for homes in Latrobe have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.27%, which ranks in the top 30% nationwide. This equates to an annual average Latrobe house appreciation rate of 0.89%.

Over the last year, Latrobe appreciation rates have trailed the rest of the nation. In the last twelve months, Latrobe's appreciation rate has been 2.59%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Latrobe were at -0.41%, which equates to an annual appreciation rate of -1.65%.

Relative to Pennsylvania, our data show that Latrobe's latest annual appreciation rate is higher than 50% of the other cities and towns in Pennsylvania.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Latrobe differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Latrobe - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Latrobe real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$124,266

Latrobe, PA HOME PRICES

Value Range
> $1,100,000 0.0
$824,001 - $1,100,000 0.0
$550,001 - $824,000 0.5
$440,001 - $550,000 0.0
$330,001 - $440,000 2.4
$220,001 - $330,000 6.1
$110,001 - $220,000 52.9
$55,001 - $110,000 36.3
$0 - $55,000 1.7

Average for PA
Low for Nation

Value Relative to Nation Value Relative to State
63.0024610336341 59.1304347826087

Number Of Homes And Apartments:
3,701

Latrobe Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
34.87% 1.75% 3 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$708 / per month

Homeownership Rate

Homeownership
Owners 63.15
Renters 36.85
Vacant 14.15

Housing Market Details

 

Age of Homes

AGE OF Latrobe HOMES
2000 or Newer 2.8
1970 - 1999 14.3
1940 - 1969 46.2
1939 or Older 36.8

Types of Homes

TYPE OF Latrobe HOMES
Single-Family 68.2
Townhomes 3.4
Small Apt. Buildings 12.5
Apt. Complexes 15.4
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Latrobe HOMES
No Bedroom 0.39
1 Bedroom 17.26
2 Bedrooms 29.48
3 Bedrooms 40.92
4 Bedrooms 10.46
5 or more bedrooms 1.48